Heritage Foods inks pact with French yogurt maker

Dairy producer Heritage Foods Ltd has inked a 50:50 joint venture with France-based Novandie SNC to produce and market fruit and flavoured yogurt as well as western style dessert in India. The venture will set up a greenfield plant with a capacity of 20 tonnes per day at an estimated capital outlay of Rs 16 crore. The plant is set to commence commercial production in 2018.

The board of directors of the company has proposed sub division of existing one equity share of the company of face value Rs 10 each into two numbers of equity shares of face value